No Service Tax on Forfeited Earnest Money Deposits, as per CBIC Circular Dated February 28, 2023. https://www.taxtmi.com/highlights?id=69447 Levy of Service tax - Forfeiture of earnest money deposit on account of contractors failure to honor the terms of the contract - The Circular dated 28.02.2023 issued by the Central Board of Indirect Tax and Customs also provides that service tax cannot be levied on the amount collected for the said purpose - thus demand on contractual agreement do not sustain. - AT en-us Thu, 27 Apr 2023 08:58:56 +0530 Thu, 27 Apr 2023 08:58:56 +0530 TaxTMI RSS Generator No Service Tax on Forfeited Earnest Money Deposits, as per CBIC Circular Dated February 28, 2023. https://www.taxtmi.com/highlights?id=69447 Levy of Service tax - Forfeiture of earnest money deposit on account of contractors failure to honor the terms of the contract - The Circular dated 28.02.2023 issued by the Central Board of Indirect Tax and Customs also provides that service tax cannot be levied on the amount collected for the said purpose - thus demand on contractual agreement do not sustain. - AT Highlights Service Tax Thu, 27 Apr 2023 08:58:56 +0530 https://www.taxtmi.com/highlights?id=69447